Copper returns to the bearish attempts – Analysis – 31/7/2015

Copper price ended its intraday positive fluctuation by settling below 2.5000 level, which pushed it to regain its bearish bias, noticing its consolidation around 2.3500 again, thus, the bearish overview will remain valid until reaching our previously waited targets around 2.2500 and 2.1400.

Stochastic loses the positive momentum to support forming more bearish waves, confirming the bearish domination and agree the moving average negativity by holding above the current levels.

Expected trading range for today is between 2.5000 and 2.2500

Expected trend for today: Bearish